Trigon Metals Announces Annual and Special Meeting of Shareholders to Vote on Sale of its Interest in the Kombat Mine
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FOR IMMEDIATE RELEASE
Trigon Metals Announces Annual and Special Meeting of Shareholders
to Vote on Sale of its Interest in the Kombat Mine
Toronto, Canada – April 24, 2025 – Trigon Metals Inc. (TSX -V: TM, OTCQB: PNTZF) (“Trigon” or
the “Company”) announces that it will be holding its annual and special meeting of common
shareholders on Wednesday, June 11, 2025, at 10:00 a.m. ET (the “Meeting”) to, among other
matters, vote on the proposed sale of the Company’s ownership interest in the Kombat Mine to
Horizon Corporation Limited (the “Proposed Transaction”).
Trigon and Horizon are in the final stages of negotiation the definitive share purchase agreement
(the “SPA”) that wil l govern the Proposed Transaction and the parties expect to be able to
execute the SPA in the coming days. Please see the Company's press releases dated February 11,
2025 and April 2, 2025 for additional details regarding the Proposed Transaction . The Company
will provide further updates as the Proposed Transaction advances. The completion of the
Proposed Transaction remains subject to regulatory approvals, including TSX Venture Exchange
approval, Trigon shareholder approval, third -party consents, and other customary closing
conditions.
The Proposed Transaction is expected to transition Trigon from an under-capitalized operator to
a well funded exploration company. This positions Trigon to focus on the full-scale advancement
of its copper and silver exploration projects in Morocco , and the Kalahari Copper Project in
Namibia. If approved, the Proposed Transaction will provide Trigon with the financial flexibility
and capital necessary to aggressively pursue development activities at its Silver Hill, Addana and
Kalahari projects, with no additional dilution to shareholders.
Jed Richardson, Executive Chairman and CEO of Trigon, commented:
“With visibility to approximately up to US$40M in payments plus a potentially lucrative royalty,
this is an opportunity to concentrate our efforts where we see the highest growth potential
and strongest returns, and return some capital to our shareholders over time . We are excited
about what lies ahead.”
A package including the management information circular , which will describe the terms of the
Proposed Transaction and additional details of the Meeting, will be mailed to Trigon shareholders
of record as of May 6, 2025. The mailout will also include a link to download the Proposed
Transaction Information Packet from the Trigon website.
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About Trigon Metals
Trigon is a publicly traded Canadian exploration and development company focused on
advancing copper and silver projects in Africa. The Company’s portfolio includes an 80% interest
in five mining licences in Namibia’s Otavi Mountainlands, as well as the Kalahari Copper Project
and its Moroccan exploration projects, including Addana and Silver Hill.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements
regarding the Meeting, the Proposed Transaction, the Company’s ability to close the Proposed
Transaction, regulatory approvals and operational plans, the Company’s strategies and the
Company’s abilities to execute such strategies, the Company’s expectations for the Kombat mine,
and the Company’s future plans and objectives. These statements are based on current
expectations and assumptions that are subject to risks and uncertainties. Actual results could
differ materially because of factors discussed in the management discussion and analysis section
of our interim and most recent annual financial statements or other reports and filings with the
TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any
obligation to update any forward-looking statements, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, contact Tom Panoulias, VP Corporate Development:
+1(647)276-6002 x 1127
website: www.trigonmetals.com